Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
XL’s Q3 Operating Net Income Down to $70.8M on Integration Costs, Cat Losses
Oct 27 2015 // Dublin-headquartered XL Group reported third quarter operating net income of $70.8 million, or $0.23 per share, down from $187.1 million, or $0.70 per share, in the prior year quarter. The current quarter’s results...
Aon Expands Florida Reinsurance Operations
Oct 27 2015 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, is expanding its reinsurance and analytical capabilities in the state of Florida. Beginning January 2016, Aon Benfield will increase the...
Greenlight Re Posts Q3 Loss on Poor Investment and Underwriting Performance
Oct 26 2015 // Greenlight Capital Re Ltd. posted its third-straight unprofitable quarter on losses in the investment portfolio overseen by hedge-fund manager David Einhorn. The net loss for the period ended Sept. 30 widened to $219.7...
Reinsurance Broker TigerRisk Hires Ex-AIG, Hanover Exec. Bensinger as Adviser
Oct 26 2015 // TigerRisk Partners has hired insurance-industry veteran Steven Bensinger, who oversaw American International Group Inc.’s finances during the early part of the global credit crisis, to advise clients. Bensinger,...
Ironshore Acquires Novae Group’s Agricultural Team and Renewal Portfolio
Oct 26 2015 // Bermuda-based Ironshore International announced the acquisition of the reinsurance renewal rights to Novae Group’s global agriculture reinsurance portfolio. The transfer is conditional on Lloyd’s approval and...
Best Affirms Munich Re and Subs Ratings; Outlook Stable
Oct 23 2015 // A.M. Best has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit ratings of “aa-” of Munich Reinsurance Company and its subsidiaries. Best has also affirmed the...
ABIR Head Lauds Brazil Decision to Phase out Local Reinsurance Mandates
Oct 22 2015 // In a speech delivered before the Brazilian Center for International Relations (CEBRI), Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers (ABIR), praised the Brazilian...
Lloyd’s Signs MoU with China’s Taiping Insurance Group
Oct 21 2015 // Lloyd’s announced that it has signed a Memorandum of Understanding (MoU) with China Taiping Insurance Group, “marking a significant level of co-operation between the world’s only specialist insurance and...
Willis Capital Market Report Finds Decline in ILS Issues as Growth Stabilizes
Oct 21 2015 // According to the latest ILS report from Willis Capital Markets & Advisory (WCMA), part of Willis Group Holdings plc, “$650 million of non-life Rule 144A catastrophe bond capacity was issued across three...
Rivera Appointed CEO of Aon Benfield’s Colombian Reinsurance Business
Oct 21 2015 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc announced the appointment of Sergio Rivera Jiménez as CEO of Aon Benfield Colombia, effective immediately. He reports to Alejandro Galizia,...
Swiss Re Names Baertschi President of Reinsurance – Latin America
Oct 20 2015 // Swiss Re announced that Urs Baertschi has been appointed to the new position of President of Reinsurance, Latin America, effective January 1, 2016. He will have overall responsibility for Swiss Re’s reinsurance...
Reinsurers See Further Price Declines for 2016 in Wake of Mergers
Oct 19 2015 // The world’s largest reinsurers are anticipating even bigger price declines when policies are renewed in 2016 than envisaged a month ago as a flurry of takeovers in the industry fails to absorb some of the excess...
Insuring against Terrorism: America’s Post-9/11 Recovery
Oct 19 2015 // In a nation founded on a system of checks and balances – House against Senate, Supreme Court versus the Presidency – gridlock can be a fact of life, especially in peacetime. But in a time of real trouble from...
Tennessee Dissolves Residual Workers Comp Reinsurance Plan
Oct 19 2015 // The Tennessee Workers Compensation Insurance Plan (TWCIP) reinsurance mechanism has been dissolved as part of the state’s transition to the National Council on Compensation Insurance (NCCI) as the new residual...
Hiscox’s ILS Unit, Kiskadee, and Hiscox Re Announce 3 Senior Appointments
Oct 15 2015 // Bermuda-headquartered Hiscox Re’s insurance linked securities (ILS) operation, Kiskadee Investment Managers, announced that Andrew Hughes will assume the role of ILS chief compliance officer and general counsel,...
Amtrak Sponsors $275M Cat Bond for Northeast Storm Surge, Wind, Quake
Oct 14 2015 // Amtrak is getting $275 million of reinsurance protection from the capital markets for its wholly owned captive, covering storm surge, wind and earthquake perils, according to GC Securities. GC Securities, the capital...
Hamilton USA CEO Ward Resigns
Oct 14 2015 // Hamilton USA CEO Conan Ward has resigned less then two years after taking on the job to develop Bermuda-based parent company Hamilton Insurance Group’s U.S. operations, Carrier Management has reported. Hamilton...
W. R. Berkley Launches South Africa Treaty Unit; Paradine Named Senior VP
Oct 14 2015 // W. R. Berkley Corp. announced it has launched a business unit dedicated to writing South African business. The new unit, which will report to Berkley Re UK, will provide treaty service to both insurers and brokers in the...
Tennessee Dissolves Residual Workers’ Comp Reinsurance Plan
Oct 9 2015 // The Tennessee Workers Compensation Insurance Plan (TWCIP) reinsurance mechanism has been dissolved as part of the state’s transition to the National Council on Compensation Insurance (NCCI) as the new residual...
Run-Off Specialty Firm Catalina Agrees to Buy Allianz Suisse Re from Allianz SE
Oct 8 2015 // Catalina Holdings (Bermuda) Ltd. announced its wholly owned Swiss subsidiary, Glacier Reinsurance AG, has signed a definitive agreement to acquire Allianz Suisse Ruckversicherungs-Gesellschaft AG from Allianz SE. Allianz...
